The poorly constructed and divisive Cybertruck was the all-electric brands single highlight. Wayne Gerdes – CleanMPG – July 2, 2024 2024 Tesla Cybertruck Now in its 9th month of availability, the Cybertruck is finally gaining sales traction as Tesla rushes to fill a backlog of pre-orders. Despite company structured vids including the Cybertruck being pummeled with a steel ball and the windows shattering at its intro, one outpulling a Ford F-150, and another towing a Porsche 911 on a trailer and beating a non-towed 911 at a drag strip, all were laughed away by serious auto enthusiasts as fantasy. The Tow bar to tow bar Ford vs prototype Tesla was a matter of weight on the driven wheels and nothing more. With the production versions, the CyberTruck will not pull against any truck and it loses every time. The Porsche was the lowest powered 911 and it was run under less than an 1/8th of a mile. In reality, even the least power Porsche easily dominated in that pull vs the fake one Tesla created. And of course, the windows shattering at the intro was simply a PR mistake. Like other Tesla offerings, with no critical reviewers publishing a first drive, the trucks real world capability was left to actual customers laying down well over $100k as guinea pigs. Despite the hype, the real-world results have not been good. I have seen a new CT bricked in a car wash, multiples stuck in riverbeds and buried in sand with F-150s towing them out, stuck driving up a std. snow covered drive, one with the rear SS quarter panel falling off exposing a plastic body underpinning, and of course a ton of meme’s highlighting the 5th grade exterior design study. Three of the key specs that cause me pause is first, its rated 67 cu. ft. of lockable cargo volume beneath the powered tonneau cover. That is the same spec as a 2013 Prius v with the rear seats folded down and it is not a useable volume as in rectangular but much of it sloped. Second, the fingerprint prone, SS body panels appear as if they were rolled with a bump filled press. The damn things are not flat! And thirdly is the brands J.D. Power Initial Quality Survey (IQS) and J.D. Power Vehicle Dependability Study (VDS) rankings. The company’s offerings are ranked at or near the bottom in terms of both initial and long-term quality/dependability as measured by a third party. BEVs Continue to Lag in J.D. Power 2024 Initial Quality Survey (IQS) J.D. Power Vehicle Dependability Continues to Show Deterioration As an EV, it does have some delectable features including the AWD offering which should be available sometime in 2025 may arrive with an MSRP of $69,995 and provide an est. 340-mile AER, 0-60 in 4.1 sec., and an 11,000 lbs. tow cap. One of the key specs that cause me pause is its rated 67 cu. ft. of lockable cargo volume beneath the powered tonneau cover. That is the same spec as a 2013 Prius v with the rear seats folded down and it is not a useable volume as in rectangular but much of it sloped. Of course, this is Elon Musk and forward announced details rarely match reality. Tesla Q2 2024 U.S. Sales and Highlights KBB released their Q2 2024 and YTD, US Owner Sales/Registration breakouts for the Tesla brand. Overall, Tesla sold 164,264 vehicles in the US during Q2 of 2024, down 6.3% below the 175,262 sold through Q2 of 2023. YTD sales of 304,451 was down 9.6% vs the 336,892 sold through the same period of 2023. On an individual model breakout, the CT was the only standout and in fact, outsold the Ford F-150 Lightning for the first time in the Q2 of 2024. 8,755 vs 7,902. YTD however, the Lightning is still in the lead with 15,645 sold compared to the 11,558 CTs sold through the same period by comparison. Model Y achieved Q2 of 2024 sales of 101,301, down 3.7% below the 105,158 sold during Q2 of 2023. YTD sales of 198,030 was down 1.2% below the 200,520 sold through the same period of 2023. Model 3 achieved Q2 of 2024 sales of 42,710, down 26.2% from the 57,837 sold during Q2 of 2023. YTD sales of 73,552 was down 34.8% below the 112,791 sold through the same period of 2023. Cybertruck achieved Q2 of 2024 sales of 8,755. YTD sales reached 11,558 vehicles sold. Model X achieved Q2 of 2024 sales of 6,570, down 6.3% below the 7,010 sold during Q2 of 2023. YTD sales of 12,177 was down 9.6% below the 13,475 sold through the same period of 2023. Model S achieved Q2 of 2024 sales of 4,928, down 6.3% below the 5,257 sold during Q2 of 2023. YTD sales of 9,134 was down 9.6% below the 10,106 sold through the same period of 2023. Wayne
Oh, I forgot to mention. I saw my 2nd Cybertruck a couple weeks ago. Have no idea if it was the same one I previously saw.....ya see one Cybertruck, ya seen them all.
Hi All: 7-24-2024 -- Tesla Issues Another Disappointing Quarterly The Nasdaq Composite closed down 3.64% and the S&P 500 fell 2.31%, both on pace for their worst daily percentage decline since 2022. The Tech heavy NASDAQ decline arose after last night’s Tesla’s Q2 results release revealing a second-straight decline in quarterly net GAAP earnings with profits down more than 46% from a year ago. Tesla's Q2 2024 Net GAAP Earnings of $0.42/share were down -46.2% from the $0.78/share earned in Q2 of 2023. A bright spot came from the company's Q2 2024 Revenues of $25.5 billion USD which was up 2.1% over the $24.927 billion USD achieved in Q2 of 2023. While not racing upwards and in no way justifies its 60 P/E, the $25.5 billion USD revenue beat the streets estimate of $24.54 billion and came about from the non-automotive, Energy generation and storage revenue of 3.014 billion USD, up 100% over the $1.509 billion sold in Q2 of 2023. On Wednesday afternoon, Tesla closed the session down $30.39 or -12.33% to $215.99. TSLA 2-yr. Stock Chart on 7-24-2024. Discussing Musk's Aug. 8th, 2024 declaration for the Robo-taxi and more affordable Tesla model releases was apparently just another of his fantasy's. The earnings call includes Musk and other executives discussing the postponement of the company's "robotaxi" event to October and production of a new, more affordable vehicle scheduled for the first half of next year after a redesign. More than likely, removal of the cost saving single cast aluminum chassis since repair after a minor or worse accident would be impossible and the vehicle would have to be totaled. Wayne
Actually, if Elon had gotten political correctly, he could have expanded his market. Great draws for environmentalists to electric vehicles is their ability to save lives with no in-city fossil fuel emissions & decrease Global Warming. However, Musk started stumping for wrong causes, alienating himself & his company from proper programs & conduct.
Hi All: While the goofball Musk is suing advertisers for leaving twitter, ranting about Liberals, and lying about all kinds of things on his social media company, Tesla itself did produce some good news courtesy of Consumer Reports. I missed this but saw a number of stories on it this week regarding their own detail on OEM Maintenance costs rankings over 5 and 10-year periods published in April of this year. Tesla kicked everyone's @$$, including Toyota! Least Expensive Car Brands to Maintain: Tesla costs the least; German brands the most... Consumer Reports (CRs) asked members in their 2023 Annual Auto Surveys to tell them how much they paid out of pocket for their total maintenance (oil changes, tires, etc.) and repairs during the previous 12 months. CRs did not include costs associated with collision repair. When comparing cumulative costs by brand for years one through five and six through 10, they found that Tesla had the lowest maintenance costs. At the opposite end of the rankings, several German automakers are clustered as the most expensive brands, namely Audi, BMW, Mercedes-Benz, and Porsche. Wayne
Wonder how much the higher costs are for the luxury experience and privilege? Ford/Lincoln is the only one without a $1000+ difference.
Landrover costs $19,250 to maintain & repair over 10 years. My 2013 Hyundai Elantra cost under $13,000 to BUY & has needed no repairs in 11+ years. My mechanic of 26+ years did all my maintenance for nearly 100,000 miles, which wasn't $2000. So, for the cost of Landrover maintenance & repair, I got a Free Elantra plus thousands of dollars left in my piggy bank. Oh, yeah. The Elantra is better than the Landrover & a whole lot better with MPG. I knew that poor people are much better with money than rich people.
Hi Litesong: The wealthy in most cases trade in their vehicles after the warranty runs out. In many cases, it is the second, far less wealthy owner, that bares the brunt of the costs in order to boost his or her ego/status. Do you think the top 5% care if refueling costs $100/week or $30/week? They do not. Those that can afford such a vehicle care that their vehicles are quiet, provide unused performance, and impresses their friends and family. Wayne
Hi All: Through the first half (H1) of 2024, the OEM EV sales results proved to be quite interesting. Namely, how the once dominant market leader is fading while the upstarts are gaining ground unusually fast. Said dominant market leader is still in command of course but times appear to be changing... H1 2024 US OEM BEV Sales Tesla - H1 sales of 304,451 vehicles were down 9.6% vs the 336,892 sold through H1 of 2023 Ford - H1 sales of 44,180 vehicles were up 71.8% vs the 25,709 sold through H1 of 2023 GM - H1 sales of 38,355 vehicles were up 5.6% vs the 36,322 sold through H1 of 2023 Hyundai - H1 sales of 29,105 vehicles were up 34.3% vs the 21,666 sold through H1 of 2023 Kia - H1 sales of 27,634 vehicles were up 103.7% vs the 13,566 sold through H1 of 2023 Rivian - H1 sales of 27,378 vehicles were up 33.0% vs the 20,586 sold through H1 of 2023 BMW - H1 sales of 24,794 vehicles were up 38.0% vs the 17,964 sold through H1 of 2023 Mercedes - H1 sales of 21,520 vehicles were up 11.7% vs the 19,268 sold through H1 of 2023 Nissan - H1 sales of 12,412 vehicles were up 31.6% vs the 9,429 sold through H1 of 2023 VW - H1 sales of 11,857 vehicles were down 27.9% vs the 16,448 sold through H1 of 2023 Audi - H1 sales of 11,121 vehicles were up 22.0% vs the 9,112 sold through H1 of 2023 Toyota - H1 sales of 9,468 vehicles were up 158.8% vs the 3,659 sold through H1 of 2023 Lexus - H1 sales of 5,639 vehicles were up 404.8% vs the 1,117 sold through H1 of 2023 Lucid - H1 sales of 3,822 vehicles were up 36.0% vs the 2,810 sold through H1 of 2023 Polestar - H1 sales of 3,355 vehicles were down 35.2% vs the 5,177 sold through H1 of 2023 Genesis - H1 sales of 3,241 vehicles were up 26.7% vs the 2,559 sold through H1 of 2023 Porsche - H1 sales of 2,732 vehicles were down 13.6% vs the 3,162 sold through H1 of 2023 OEM H1 2024 US EV Sales Totals are estimated to be 599,372, up 7.3% vs the 558,377 sold through H1 of 2023. Wayne
There is an Amazon Prime truck parked in the parking lot. While delivering a package, the headlights are flashing. I did not realize the Amazon Trucks are Rivian. From an old article, it says that Amazon purchased 10,000 Rivians to deliver packages in the U.S. & Europe.
